Protests Surge for Fair Salaries and Pensions:
Meerut Division BO-Khatauli: Today, on the joint call of the All India Insurance Employees Association (AIIEA), the Federation of LIC Class 1 Officers Association, NFIFWI, and AILICEF, salary rescheduling, updating of pension, and reduction of NPS 14 in all three branches of the Life Insurance Corporation of India in Khatauli,. In relation to the protest, it was registered by boycotting work for one hour before the lunch break.
MDIEU leadership voices concerns:
Secretary Mr. Deepankar Sharma and President Mr. Sameer Chaudhary of MDIEU expressed frustration over the pending salary rescheduling, emphasizing the lack of organized talks by the management. Despite continuous requests, positive initiatives have not been taken, highlighting the management’s stubbornness.
LIC’s Remarkable Progress vs. Unaddressed Employee Demands:
Mr. Vedant Sharma, Vice President of the organization, highlighted LIC’s global recognition as the fourth-largest insurance company, boasting reserves of $504 billion. Despite LIC’s exceptional growth between 2017 and 2022, with substantial increases in total premium income, premium per employee, and total assets, legitimate employee demands remain unaddressed, showcasing management’s reluctance.
Financial Triumph Amidst Protest:
Post the half-yearly accounting closing on September 30, 2023, LIC’s total expenses decreased from 16.69% to 15.14%, and the 13-month percentage ratio increased from 77.62% to 78.49%, indicating financial resilience amidst ongoing protests.
Class 1 Officers Highlight LIC’s Global Standing:
Mr. Naveen Kumar, a Class 1 officer, praised LIC as the only government insurance company with a 60% market share based on premium income and 70% based on policy numbers. These achievements, despite 23 years of competition with private companies, are attributed to the tireless efforts of the LIC workforce.
AIIEA’s Joint Program: Ensuring Success in Adverse Circumstances:
Mr. Hari Krishan Pant, an AIIEA member, expressed disappointment over the lack of talks on salary rescheduling despite the recent agreement with public banks. He stressed the need for a 100% success rate in the joint program led by AIIEA to achieve legitimate demands, recruitments, and an increase in management’s contribution to NPS.
Historical Perspective: Recalling Past Victories
Mrs. Gunjan Mathur invoked the historical victory of insurance employees in 1974, recalling the defeat of the government’s lockout policy. Despite adversity, employees achieved a significant victory through nationwide agitation and struggle. Mathur urged remembrance of this historical feat and expressed confidence that current demands will soon be met.
Protests Surge for Fair Salaries and Pensions:
In Khatauli’s Meerut Division, a unified call by key insurance associations has sparked protests demanding salary rescheduling, pension updates, and NPS 14 reduction at all three branches of the Life Insurance Corporation of India. The protest involved boycotting work for one hour before the lunch break.
Continued Struggle: Necessity for Dialogue and Resolution:
The protests underscore a persistent call for dialogue between the management and protesting employees, emphasizing the need for a swift resolution to address their long-pending demands. As the workforce reflects on historical victories, there is a collective belief that the ongoing movement will pave the way for the fulfillment of their legitimate aspirations.
Renewed Determination: Building on Past Triumphs
The echoes of the historical triumph in 1974 serve as a source of inspiration, instilling a renewed determination among the current generation of insurance employees. The memory of overcoming challenges five decades ago strengthens their resolve to achieve success in the present struggle, emphasizing the timeless spirit of resilience within the community.
Global Recognition vs. Local Concerns: A Balancing Act:
While LIC’s global recognition as the fourth-largest insurance company is a testament to its financial prowess, the juxtaposition with unmet employee demands highlights the delicate balance required between organizational achievements on a global scale and addressing local workforce concerns. The protests serve as a tangible reminder that success must be inclusive, encompassing both corporate accomplishments and the well-being of the employees driving the organization’s success.
Future Prospects: Anticipating Positive Change
As the protests unfold, there is anticipation for positive change on the horizon. The current challenges serve as a catalyst for a more inclusive and responsive dialogue between management and employees. The hope is that the collective voice of the workforce, supported by historical precedence and current achievements, will lead to a fair resolution that aligns with the evolving landscape of the insurance industry.
On this occasion:
- Mrs. Soma
- Mrs. Srishti
- Mrs. Gunjan
- Mr. Manjeet
- Mr. Anmol
- Mr. Shailendra
- Mr. Rakesh
- Mr. Vishwajeet
- Mr. Sharan pal
- Mr. Sompal
- Mr. Ompal
- Mr. Sameer
- Mr. Vedant
- Mr. Deepankar
- Mr. Mohan Lal
- Mr. Mayank
- Mr. Sunil
- Mr. Akhilesh